Thanksgiving Turkeys Will Be More Expensive This Year

On november 21st President Joe Biden performed one of the more peculiar presidential duties. Upon his return from the COP27 climate summit in Egypt, Mr Biden pardoned the two Thanksgiving turkeys in an annual ceremony that has been a tradition since Ronald Reagan’s days in office. The spared specimens are sent to farms or universities, where they are left in peace for the rest of their natural lives.

Such clemency looks generous in a time of sky-high inflation. Food prices have risen sharply...

With Food Prices Rising, Consumers Pull Back on Other Retail Spending, Reports NPD

Pre-holiday declines in general merchandise sales emerge as grocery spending continues to rise

U.S. general merchandise retail sales revenue declined during the three weeks ending November 5, 2022. Year-over-year sales revenue in October fell 5% below a year ago, followed by a 14% decline in the first week of November. Several factors contributed to declining sales, with the rising cost of living at the forefront, according to The NPD Group, which recently merged with Information Resources, Inc. (IRI) to create a leading global technology...

Kroger Promises a Thanksgiving Fresh for Everyone

The Kroger Co., America's grocer, today shared its efforts to cushion customers from the impacts of inflation as they prepare holiday meals, including a zero-compromise shopping guide with meal options that can feed 10 people for as little as $5 per person. The grocer, who estimates the cost of turkey has risen 20 cents per pound this year, will not shift the rising cost to customers.

"At Kroger, we are committed to making the holiday season memorable and accessible for everyone," said Stuart Aitken, Kroger Senior Vice President and Chief Merchant...

Blast From the Past: ALDI Rewinds Pricing on Thanksgiving Favorites

ALDI is pleased to introduce the Thanksgiving Price Rewind offering affordable prices on holiday essentials. Starting November 2, holiday favorites ranging from appetizers, desserts, sides and beverages, will match 2019 prices for discounts of up to 30%.

Think favorites like brie cheese, prosciutto, cornbread stuffing, award-winning wines, mini quiches, fresh brown-and-serve rolls, macarons and apple pie, to name a few. Shoppers can look for the Thanksgiving Price Rewind icon in their local ad and throughout the store for extra savings.

ALDI has everything you need this Thanksgiving...

America’s Eating Patterns Adjusted to a Pandemic and Are Now Adapting to Higher Food Costs

Six macro trends currently shaping food and beverage consumption behaviors

Historically, there has been a rhythm to eating patterns in America; somewhat predictable habits formed by daily routines and needs. The early stages of the pandemic disrupted this rhythm, and just as eating patterns were returning to pre-pandemic normalcy, food inflation set them on end again, reports The NPD Group* in its recently released 2022 edition of Eating Patterns in America.

“The rate of change in U.S. consumers’ eating behaviors continues at a dizzying..."

Holiday Plans: Desire for Food Gifting, Bigger Gatherings & Robust Food Spending Despite Inflation

New Results from Omaha Steaks' Annual Harris Poll of 2,000 Americans Reveals Insights on Holiday Attitudes and Behaviors

Americans are craving experiences and togetherness this holiday season, while also planning to spend more on holiday feasts and gather in larger groups than recent years. These are a few of the findings from the third annual Harris Poll, commissioned by Omaha Steaks gauging Americans on a wide variety of holiday-related food, entertaining and gifting plans. While 7 in 10 Americans (71%) are looking forward to time around...

Lower-income Households Hardest Hit by Inflation

Historically, the spending gap between higher- and lower-income households is more pronounced in times of high inflation. With food inflation at a 40-year high, the gap has widened again, and lower-income households are shifting their at- and away-from-home eating behaviors to stretch their food dollars. Eating more frozen and shelf-stable foods, using less expensive and private label brands, and cutting back on restaurant visits, are among the ways lower-income households are managing their food spending, reports The NPD Group, which recently merged with Information Resources...

Consumers Rely on Chicken Even as Inflation Affects Prices

While consumers average rating for their current financial situation is in the middle between “poor” and “excellent,” 87 percent are buying more or the same amount of fresh chicken now compared to six months ago, according to research presented today at the 2022 Chicken Marketing Summit.

The National Chicken Council (NCC) and WATT Global Media presented the results of a study that focused on current and anticipated U.S. consumer behavior, specifically, consumption of fresh chicken. The results suggest opportunities for chicken to maintain market share. IRI provided supporting data from its...

Retailers Say New Biofuel Levels Will Drive Up Food Prices

The National Retail Federation today said biodiesel levels set by the Environmental Protection Agency for this year are too high and will drive up inflation for already high food prices, especially processed foods that rely on food oils from crops like soybeans.

“For more than a year, we’ve alerted the EPA and the administration about the shortage of food oils, which is causing significant disruptions throughout the supply chain and raising food costs for consumers,” said David French, NRF’s senior vice president for government relations and executive director of...

Foodservice Update Q2 2022: Foodservice in Troubled Times - Impact of the War in Ukraine

This is a special edition focusing on the impact that the war in Ukraine may have on the foodservice industry in the immediate and the longer term. Food and energy prices were already rising before the war began, and this conflict has amplified the trend, making clear that high prices will not revert any time soon. Also, foreign brands operating in Russia are exposed to reputational risks, which might have consequences in long term strategies.

Report summary
The consequences will differ, depending on the market and...

The Russia-Ukraine War’s Impact on Global Fertilizer Markets

Higher fertilizer prices and/or a shortage of fertilizer supply resulting from the war in Ukraine will not have an immediate impact on food prices and/or food production. Currently, the fertilizer market in the northern hemisphere is relatively quiet. All transoceanic flows for the upcoming northern hemisphere spring season have already taken place, and movements are now primarily at the local level: from the import ports and/or domestic production locations to farm fields.

The first crop-growing regions to be ‘at risk’ are India and Latin America...

North American Meat Institute to House Agriculture Committee: Asked and Answered

The North American Meat Institute (Meat Institute) today issued the following statement regarding House Agriculture Committee Chairman David Scott’s announcement of an upcoming hearing on the beef industry and food prices:

“The Meat Institute and its members have already made themselves available to Chairman Scott and all Members of Congress on several occasions to help improve the understanding of the beef markets,” said Julie Anna Potts, President and CEO of the Meat Institute. “This hearing will be no different. The questions have been asked and answered...”

Chicken Council Responds to Politicized Criticisms of Food Inflation

The most recent drumbeat from the White House National Economic Council (NEC) blaming the meat and poultry industry for their failed policies and rising meat prices came yesterday in a blog post. Let’s look at the facts according to the federal government’s own data.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of Labor Statistics reported on Friday. Over the last 12 months, the all items index increased 6.8 percent...